Topic: PIIGS (European debt crisis) 吳宇綸D0131292 劉昱顯D0131156 王謙 周雋彥D0125599 Contents 1. Introduction 2. Overview of the European sovereign debt problem 3. Relief measures of the European sovereign debt crisis 4. European debt crisis 5. Conclusion 6. References I. Introduction The PIIGS is a group that composed of five countries that have some commonality in location and economic environments. In this case‚ PIIGS includes Portugal‚ Italy‚ Ireland‚ Greece and Spain. The countries which
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The banking crisis of the late 2000s‚ often called the Great Recession‚ is labelled by many economists as the worst financial crisis since the Great Depression. Its effect on the markets around the world can still be felt. Many countries suffered a drop in GDP‚ small or even negative growth‚ bankrupting businesses and rise in unemployment. The welfare cost that society had to paid lead to an obvious question: ‘Who’s to blame?’ The fingers are pointed to the United States of America‚ as it is obvious
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world felt that these two firms might not be able to live upto the guarantees which they have to provide to the public. It is somehow justified to “Privatize profits and nationalize losses” as the major companies(Freddie and Fannie) which required bailouts were US federal government entities and their guarantee was backed up by the federal government and in case of crisis the US government backed it with a gurarantee. Therefore the mortgage was a very safe option for the public. It is somehow argued
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for instance the ‘Telegraaf’ published on the twelfth of june 2012. The newspaper’s front page discusses whether Huntelaar or Van Persie needs to be striker in the game against Germany on the thirteenth of june. On page 25‚ the bailout of Spain is reported on. This bailout means a lot for the Euro and the future of this currency‚ but is seen as far less important than the national football team. This shows that stories are selected for publishing because of large human interested‚ not because of importance
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A full time employee working forty hours a week contributes a great deal towards the functionality and overall success of a business to receive a paycheck in order to pay the bills. Everyone knows that failing to meet performance standards can bring disciplinary actions resulting in suspension or possible termination. All companies are heavily dependent upon the day-to-day workforce to accomplish their goals and ultimately bring in revenue‚ yet the compensation given to these employees is drastically
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The Financial Greek Crisis Gunnar MacDougall Macroeconomics Greece has gained a lot of unwanted publicity in the past few years by being at the center of the economic crisis in the Eurozone. In 2009‚ Greece announced that for years they had been understating their deficit figures. It is all speculation on why Greece had been trying to hide its deficit figures‚ but it is pretty obvious that no country wants to announce that are doing extremely poorly. In response to Greece’s release of this information
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asserted in political circles that a breakup would have catastrophic effects‚ much more costly than the price of bailouts and recapitalisations. Greece has been the most trouble Euro country‚ with astronomically high yields on its government debt and widespread civil unrest. A 50% ‘voluntary’ writedown on sovereign debt ownded by private creditors has been agreed‚ as has a second EU-IMF bailout. Severe austerity conditions will be attached to this‚ and even should there be strict adherence to these‚ uncertainty
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economic mismanagement‚ government misreporting‚ and tax evasion." In May 2010‚ the European Commission‚ European Central Bank‚ and IMF held an emergency meeting to address Greece ’s burgeoning debt crisis‚ which resulted in the creation of a temporary bailout fund called the European Financial Stability Facility. Following its inception‚ the EFSF helped to provide Greece with a $163 billion loan in exchange
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EXECUTIVE SUMMARY Macro Economy The U.S. economy was stagnant during the last decade primarily due to the two recessions that occurred from March to November 2001 and from December 2007 to June 2009. The two recessions resulted in weak GDP growth‚ zero net job growth and a decrease in household wealth that eradicated any gains in household wealth accumulated during expansionary periods. Over the next year the unemployment rate is expected to decline at a slow pace keeping consumer confidence low
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Bank failures are a common occurrence outside of recessions. When we look at the bank bailout of the large companies that have taken place during numerous recessions‚ we wonder what happened to government regulation and the concern for the consumer. We have been depositing our savings and investments in financial institutions that have not been transparent as well as depending on government to decide regulations for us one recession after another. The purpose of financial institutions has evolved
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